Hubei Sanhuan Group Expands in Competition


Reorganizing and digesting historical burdens, and establishing new mechanisms through reforms, the development ideas determined by the Party Committee of the Third Ring Group have enabled the Group to grow in the fierce market competition. At present, the total assets of the group companies amount to 7.5 billion yuan, and the proportion of special-purpose vehicles and auto parts to the main business amounts to 69%. From January to November this year, profits and taxes were paid 250 million yuan, and the comprehensive economic benefits were listed for many years in our province. Local machinery and automotive industry first.

Nine years ago, Hubei Machinery Group Corporation merged with Hubei Gas Valve Plant and other eight companies to establish the Sanhuan Group. The “Sanhuan Group” was listed on the Shenzhen Stock Exchange, establishing a good financing platform for the Sanhuan Group. Since then, with the strategic adjustment of the state-owned enterprises in the province as a turning point, Sanhuan Group has continuously merged and restructured to accelerate the pace of development.

At the end of 2004, Sanhuan Group, on the basis of the initial development of the integrated development of industry and trade, paid for more than 500 million yuan to acquire the equity of Xiandai Automobile Co., Ltd., and took over the handed over Hanyang Special Automobile Factory from the provincial government. Eight other companies were reorganized. The leaders of the Party Committee of the Group went deep into the masses to understand the demands of employees in reorganization enterprises, participate in the formulation of reform plans, solve practical difficulties such as their lives, medical treatment, and children’s schooling, and established files for the employees with difficulties, and focused on helping them, and properly settled more than 10,000 employees.

At the end of 2005, the Party Committee of the Group took the lead in adopting the mixed ownership model and implemented 80% of the Group's controlling interest in its key development companies. The reform of the ownership system in which the company's management and key personnel held 20% of the shareholding system promoted the continuous rise of the Group's indicators.

The Party Committee of the Group determined the new management model of “Strategic Holdings plus Financial Holdings”, reengineered the enterprise management process, implemented scientific management on key investment, operational decision-making, large capital operation, important personnel appointment and removal of key personnel, and strengthened and standardized the company’s The supervision and management of restructured enterprises will enable the development of enterprises to receive effective institutional guarantees.



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